Central Bank of Nigeria (CBN)
3 days ago
Bureau de Change operators in Nigeria have been granted temporary permission to purchase up to $25,000 weekly in foreign exchange from the Nigerian Foreign Exchange Market by the Central Bank of Nigeria (CBN). This will take effect from December 19, 2024, to January 30, 2025. The CBN announced this in a circular published by the…
17 Dec
Justice Benedict Kanyip of the National Industrial Court of Nigeria (NICN), Abuja, on Tuesday, withdrew from separate suits filed by 62 staff members of the Central Bank of Nigeria (CBN), who were recently disengaged from the apex bank’s service. Justice Kanyip, who is also the President of NICN, recused himself from the cases following the…
6 Aug
NO fewer than 151 organisations have indicated interest in the newly established Nigeria Consumer Credit Corporation (CREDICORP). CREDICORP is a Federal Government corporation with a mandate to expand consumer credit access to millions of Nigerians. According to a statement by the organization, over 151 financial institutions have indicated interests in just one month. They include…
13 Jun
The World Bank has announced the approval of $2.25 billion in financial and technical support for Nigeria. The facility is in two folds: $1.5 billion for the Nigeria Reforms for Economic Stabilisation to Enable Transformation (RESET) Development Policy Financing Program (DPF) and $750 million for the Nigeria Accelerating Resource Mobilisation Reforms (ARMOR) Programme-for-Results (PforR). As at…
5 Jun
Nigeria has implemented some measures to ease inflation, with the Federal Government reportedly planning to suspend import duties on staple foods, drugs, and other essential items for six months. According to Bloomberg, President Bola Tinubu is also considering the possibility of waiving taxes on fertilisers, poultry feed, flour, and grains. The document, the news medium…
24 May
A Federal High Court in Ikoyi, Lagos, has ordered the interim seizure of $4,719,054, N830,875,611, and properties linked to a former Central Bank of Nigeria (CBN) governor, Godwin Emefiele. Justice Yellim Bogoro issued the order on Friday after an ex-parte application by Economic and Financial Crimes Commission (EFCC) counsels, Bilkisu Buhari and C.C. Chineye. The…
21 May
The Director General (DG), National Agency for Drug Administration and Control (NAFDAC), Prof. Christiana Mojishola Adeyeye, has lam
10 May
A witness, Victor Onyejiuwa, has told the Lagos High Court sitting in Ikeja how he was pressured to pay a bribe of $600,000 to for the award of a contract from the Central Bank of Nigeria (CBN) under embattled former governor, Godwin Emefiele. Onyejiuwa who is a contractor and Managing Director of The Source Computers…
9 May
Oil firms operating in Nigeria are now allowed to spend 50 per cent balance of the repatriated export proceeds on financial obligations, the Central Bank of Nigeria (CBN) has said.
8 May
The Labour Party (LP) candidate for the 2023 general election, Peter Obi, has criticized the Federal Government for introducing the Cybersecurity Levy, saying it will impoverish Nigerians more. The Central Bank of Nigeria (CBN) directed banks to implement a 0.5% cybersecurity levy on certain electronic transactions. CBN gave this directive in a circular dated Monday,…
7 May
The Central Bank of Nigeria (CBN) has listed 16 banking transactions exempted from the cybersecurity levy. CBN in a circular on Monday, May 6, 2024, directed banks to implement a 0.5% cybersecurity levy on transactions after two weeks. According to the circular signed by the Director, Payments System Management Department, Chibuzo Efobi and the Director,…
1 May
Nigerian Fintech company, OPay said it has temporarily paused onboarding new customers and creating new wallets. OPay announced this in a statement with other Fintech companies taking the same step, according to the new directive from the Central Bank of Nigeria (CBN). The firm's management in the statement also offered clarity on CBN's new directive…
Latest
6 mins ago
The Federal Government has secured 1,743 convictions across six phases of terrorism trials conducted between 2017 and 2024. Of these, 742 individuals were convicted, while 888 were discharged and acquitted due to insufficient evidence or other reasons. Additionally, 92 cases were adjourned. Speaking at a press briefing in Abuja on Monday, the Director of Public…
8 mins ago
Bukayo Saka will be sidelined for "many weeks" after suffering a hamstring injury in Arsenal's 5-1 win at Crystal Palace, with manager Mikel Arteta describing his loss as a "huge" blow. The England winger went down midway through the first half at Selhurst Park on Saturday and had to be replaced by Leandro Trossard. "It…
11 mins ago
Governor Babagana Zulum of Borno State has flagged off free bus rides to enable non-indigenes to travel home to celebrate Christmas and New Year in various parts of the country. According to him, the 710 travellers’ free rides will cushion the economic hardships caused by the federal government's recent removal of the fuel subsidy. Zulum,…
22 mins ago
The Federal Capital Territory Emergency Management Department (FEMD) says it has saved 3,500 lives from different emergencies as of Dec. 23, 2024, while eight others lost their lives. The acting Director-General (D-G) of the department, Mr Abdulrahman Mohammed, disclosed this at the 2024 end-of-year media briefing in Abuja on Monday. Mohammed said that the people…
25 mins ago
The Plateau State House of Assembly, presided over by its Speaker, Gabriel Dewan, has called on the state government to provide adequate funding for the state’s fire service. The house made the call after a motion of notice by Mr Abel Nimchak (APC, Langtang North North) during plenary on Monday in Jos. Nimchak said that…
32 mins ago
The Commissioner of Police, Kogi State Police Command, CP Bethrand C. Onuoha, has ordered watertight security across the state throughout the Yuletide period and beyond. He stated this today Monday, while briefing members of the Command Management Team as well as Tactical Commanders at the Command Headquarters, Lokoja. Kogi police command spokesperson SP William Ovye…
39 mins ago
Prof. Abdullahi Ribadu has assumed office as the 9th substantive Executive Secretary of the National Universities Commission (NUC). Ribadu, while speaking in Abuja on Monday at the event organised by the management and staff of the commission, promised to revisit the laws of the commission for better service delivery. The Executive Secretary added that he…
46 mins ago
The Association of Resident Doctors in the Federal Capital Territory (FCT) has threatened to shut down medical services in the nation's capital if their six-month unpaid salaries are not settled. Consequently, the doctors issued a 14-day ultimatum to the FCT Minister, Nyesom Wike, to meet their demands. The President, Dr George Ebong, who issued the…
50 mins ago
Heads of security agencies in Imo State have solicited the continued support of stakeholders to achieve hitch-free yuletide celebrations in the state. The security chiefs who made the call during a Joint Show of Force Security exercise in Owerri, on Monday, assured Imo citizens of their safety and protection during the yuletide celebrations. They disclosed…
50 mins ago
The Anambra government has said that the Oba community in Idemili Local Government Area does not have a traditional ruler at the moment. Mr. Tony Collins Nwabunwanne, Commissioner for Local Government and Chieftaincy Affairs, said this at a news conference in Awka on Monday. The people of Oba had allegedly conducted an election for a…